|
|
2003
|
2002 |
|
| For
the Year: ($ in thousands) |
|
|
Net sales |
$
|
6,320,456
|
$ |
5,846,864 |
|
Net earnings(1) |
83,538 |
98,887 |
|
Allocated patronage refunds |
40,045 |
96,900 |
|
Cash returned to members |
24,380
|
37,878 |
|
| At
Year End: ($ in thousands) |
|
|
Total assets |
$
|
3,398,156
|
$ |
3,246,322 |
|
Working capital |
459,052
|
208,654 |
|
Long-term debt |
1,065,382
|
1,007,308 |
|
Equities |
896,656
|
911,513 |
|
| Financial
Measures: |
|
|
Return on equity |
9.2%
|
11.8% |
|
Return on invested capital |
8.0%
|
8.6% |
|
Long-term debt-to-capital |
52.6%
|
51.1% |
|
Current ratio |
1.42
|
1.18 |
|
| Membership:
|
|
|
Member associations |
1,284
|
1,321 |
|
Individual members |
6,056
|
6,312 |
|
|
(1) Includes gain on legal settlements of
$16,295 and $129,254, net of income taxes,
in 2003 and 2002, respectively. |
|
|
|
|
